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Global business splutters, and the pound slides to a record low against the dollar, while Russia’s invasion of Ukraine sends the dollar surging anew. It’s a powerful reminder that the U.S. dollar is the dominant world trade and finance currency. The Fed’s determination to crush inflation at home by pushing interest rates up will profoundly affect the rest of the world. The dollar’s surge this year has triggered financial crises

The dollar wobbled from a 12-week peak as traders weighed the U.S. monetary path after a lackluster set of jobs data sparked concerns about the pace of interest rate hikes. Treasuries rose, and the dollar weakened against the euro and the yen. Investors were also digesting a speech by Fed Chair Jerome Powell at the annual Jackson Hole Economic Policy Symposium. In an eagerly awaited speech, Powell left open the

The National Highway Traffic Safety Administration (NHTSA) will resolve its two-year investigation into Tesla’s Autopilot and could make a public announcement soon, the agency’s acting head told Reuters. “We’ll get to a resolution,” Ann Carlson said in an interview at the agency’s headquarters. The NHTSA is probing how drivers interact with Autopilot and whether the system adequately monitors them to ensure they pay attention. The agency is also considering whether

The founder of SpaceX and the owner of Twitter, Elon Musk, has made it clear that he wants to bring his company’s electric vehicles to India. The billionaire said he enjoys Prime Minister Narendra Modi and wants to visit the country next year. He also hopes to bring his Starlink internet services to rural and remote Indian villages. A photoshopped image of Elon Musk in Indian attire went viral on

The United States approved a $3.5 billion sale of Israel’s Arrow 3 missile killer to Germany on Thursday, clearing the way for delivery in 2025 and full operational deployment by 2030, Israeli officials said. The Arrow system is a long-range air defense system that intercepts missiles inside and outside the Earth’s atmosphere and is developed jointly by the Israel Missile Defence Organisation and the United States Missile Defense Agency. Israel’s

In a milestone that would have been impossible to imagine just a few years ago, scientists at the Lawrence Livermore National Laboratory have repeated their first-ever achievement of net energy gain in a nuclear fusion experiment. This is a huge step toward achieving what could be a nearly limitless, clean source of power for the world. The researchers achieved the feat in an experiment conducted on July 30 at the

U.S. bank JPMorgan (JPM.N) this week stopped processing payments for the Russian Agricultural Bank, Russia said on Friday, as it demanded action, not promises, from Washington to help Russian grain and fertilizer reach global markets. The bank had handled some Russian grain export payments for the past few months with reassurances from Washington. However, that cooperation was “closed on Aug 2,” the Foreign Ministry said. “JPMorgan cannot ignore the consequences

An American fugitive accused of faking his death to avoid a rape charge in Utah can be extradited to the U.S., a judge in Scotland ruled Wednesday. The 35-year-old man — identified in court as Nicholas Rossi but who insists on using the name Arthur Knight — has been in prison since his bail was revoked in December 2021 and has fought his return ever since. Rossi has been appearing

Inflation in the United States rose at its slowest pace in more than two years last month, a sign that a series of interest rates have punctured soaring price rises. The annual inflation rate slowed to 3.1% in June, down from 4% in May, according to the latest data from the Labor Department. Inflation in so-called core prices — a measure that excludes volatile food and energy costs — fell

As Congress members depart for their August recess, they leave behind a critical and pressing issue that threatens the nation’s stability: the looming possibility of a government shutdown. With September approaching, the urgency to address funding and legislative matters has never been more apparent. The country stands at a crossroads, and the decisions made in the coming weeks will undoubtedly shape its future trajectory. This article delves into the implications